Mortgage customer read more"I have always been provided with steady support and the Society helped me through some sensitive situations with comfort and help."Mrs Main
2 year discount 75% loan to value
Discounted for 2 years
Early Repayment Charges apply.
This product may be withdrawn at any time.back to comparison list
Product key features
Product related fees
There is an arrangement fee of £999. This fee can be paid up front by deducting the fee from the mortgage amount or added to the amount you borrow.
If you add the fee to your mortgage you will pay interest on the fee at the same rate as your mortgage.
There is a minimum mortgage amount of £75,000.
This product has a maximum mortgage amount of £450,000.
There is a minimum property value of £250,000 for properties located within the M25 corridor.
The maximum loan to value is 75%.
Interest rate floor
The interest rate is floored and cannot fall below 1.99%.
Mortgage repayment terms
The minimum repayment term is 5 years and the maximum repayment term is 35 years.
Early Repayment Charges
Up to 10% of the original mortgage amount can be repaid each year without charge. If the mortgage is redeemed or switched to another product during the discount rate product term then an Early Repayment Charge will apply.
The Early Repayment Charge will be calculated at:
- 2% of the amount repaid during the first year; and
- 1% of the amount repaid during the second year.
Mortgage tariff of charges
The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.
A mortgage of £205,000 payable over 16 years initially on a discounted variable rate for 2 years from inception, currently 1.99% (equal to a 3.00% discount from our SVR) and then our SVR, currently 4.99% for the remaining term would require an initial payment of £1,264.90 followed by 23 monthly payments of £1,253.65 and 168 monthly payments of £1,521.64.
The total amount payable would be £286,434.37 made up of the mortgage amount plus interest (£80,734.37) with an arrangement fee of £999, a mortgage valuation fee of £400, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 4.3% APRC representative.
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Mortgage customer read more"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them."Miss Savell-Boss
Your home may be repossessed if you do not keep up repayments on your mortgage.